French retailer Carrefour expects to grow sales by a fifth to 1.58 billion ringgit (490.68 million U.S. dollars) this year in Malaysia, spurred by outlet expansion and a better performance from existing stores, local media reported on Monday.
In 2007, Carrefour recorded 1.32 billion ringgit (409.94 million U.S. dollars) or a 12 percent jump in sales in Malaysia.
Following the opening of two outlets last year, Carrefour is set to add four stores in Malaysia this year.
The scheduled openings will bring Carrefour's store strength to 16 by the end of 2008 in Malaysia.
"We made 1.06 billion ringgit (329.19 million U.S. dollars) in 2005, 1.16 billion ringgit (360.25 million U.S. dollars) in 2006 and 1.32 billion ringgit (409.94 million U.S. dollars) in 2007. We expect a 20 percent growth this year from same store growth and store expansion," Carrefour Malaysia's customer operations and marketing director Sivakumar Haridas said.
Supporting its growth will be its strategy to focus on pricing, its house brands and offering value for money products, Sivakumar said.
In fact, he expects the contribution from its house brands towards total revenue to double this year.
Carrefour is also looking at publicizing its policy. It guarantees to offer the lowest price in the market or refund twice the difference if a product is cheaper elsewhere, he added.
"We will honor a two times difference. It is a guarantee to our customers. We are serious about this and want to communicate it further to the public," the New Straits Times quoted Sivakumar as saying.
And in line with this commitment, a pricing and market intelligence division has been set up so that it is able to offer the best and lowest price.
Source:Xinhua
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